January 8, OctaFX – The euro is starting to lose ground against the US dollar currency, after a failed attempt to break above the 1.1500 resistance level.
EURUSD Technical Analysis
The recent failure to overcome the 1.1500 level has provoked technical selling back towards the 1.1430 support level. A sustained break from the 1.1360 to 1.1470 trading range will likely provide a directional bias for short-term traders.
- The EURUSD pair is only intraday bullish while trading above the 1.1470 level, key technical resistance is found at 1.1500 and 1.1550 levels.
- If the EURUSD pair trades below the 1.1430 level, sellers may towards the 1.1410 and 1.1360 support levels.
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